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Unfortunately, far too many people use the perceived value of their home as a means of self worth. If people would stop looking at home ownership as an investment first, and a place to live to call their own second, then maybe the obsession would subside.
The median error % is pretty large for most cities. Charlotte isn't included currently. Don't trust zillow for a zEstimate. You are better off looking at recently sold comparable properties with a realtor to build a reliable estimate based on the market.
They buy and scrape data in bulk. It's not surprising. I wish I could tell you there is a better real estate site. Bank sites sometimes have short-sale listings but that's it the rest are pretty bad in both usability and content.
I'm both a real estate investor and a developer who uses their data.
They buy and scrape data in bulk. It's not surprising. I wish I could tell you there is a better real estate site. Bank sites sometimes have short-sale listings but that's it the rest are pretty bad in both usability and content.
I'm both a real estate investor and a developer who uses their data.
Realtors that I know don't put much stock in Zillow or Trulia, and neither do I. Three of my properties appear on both sites and important information aside from lot size and date of construction is wrong. Photos are taken from Google and are at least seven years old. One tract was landscaped three years ago, another had changes to the facade, and another had a bathroom added. (Yes, city construction permits were applied for, so that information is available).
Worse, the two websites give conflicting valuations for each property.
There's voodoo involved in valuing real estate. Consider data from Realtor.com, then look at the county tax assessor's website to see what houses sold for in the neighborhood in question, and you'll arrive at a much more accurate value of the property, depending upon your voodoo skills.
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